This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.

We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.

This White Code Investor Podcast No. 306 using retirement accounts.

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Still a resident with SOPA's Student Lone refinancing, you could pay just $100 a month during your residency.

And as a SOPA member, you'll have access to a powerful set of tools, education, even financial planners to help you not only save money,

but help you get on the road to financial freedom.

Check out their payment plans and interest rates at SOPA.com slash White Code Investor.

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Alright, we're going to be talking about retirement accounts today.

Retirement accounts are awesome.

Right? I mean, what everybody wants is they want something that lowers their taxes and boosts their returns

and gives them more asset protection and makes their estate planning easier and lowers their tax bill.

Everyone wants that magic account, right? Well, guess what? They exist. They're called retirement accounts.

And there are some other types of tax protective accounts like HSAs and education savings accounts and 529s and those sorts of things.

But mostly when we're looking for these sorts of accounts, the retirement accounts and the government wants you to save for retirement.

That's why you get all these benefits for saving for retirement. They're helping you to do the right thing that you know you need to do anyway.

But the main benefit of a retirement account, whether it is a tax deferred account where you get the upfront tax break and it grows tax protected and then comes out and you pay taxes on it later.

Hopefully at a lower interest, at a lower tax rate or whether it's a tax free account where you put in after tax money and it grows tax free and comes out tax free.

The main benefit is that tax free growth and over many decades, that's valuable.

You know, even if you invest tax efficiently, being in a tax protected environment like that will boost your returns by something like 0.4 to 0.8% a year.

And over long time periods, that compounds and makes you have a significantly more money than you would have otherwise.

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